Canadian Loonie Falls Against Bitcoin February 2017
Dropping from 0.00173 in February 2016 to just 0.00067 today,
I would rather have Satoshis than Loonies when our Dollar could soon be worth less than 0.0005BTC !
"A Strange Bank of Canada Report" Titled 'Canadian Bank Notes and Dominion Notes: Lessons for Digital Currencies'
Bank of Canada Report States Bitcoin Needs Regulation And Inflation
It is true bitcoin is not a uniform currency in the traditional sense. While BTC can be used and traded globally without issues, it is not uniform in the sense everyone in the world will ever use it. A lot of people will never get their hands on bitcoin during their lifetime. Banks may never condone the use of bitcoin either, yet cryptocurrency is in the process of being legalized in various countries.
It is exactly this process the Bank of Canada feels is absolutely necessary for bitcoin to survive. Without regulation, bitcoin has less of a chance to survive, according to the report. Then again, one cannot regulate bitcoin itself, but only companies who act as a custodian for funds related to bitcoin activity. Cryptocurrency is not designed to behave like traditional currencies by any means and can be regulated as such either.
Another great Steemit post about this
Thank you, for your time @darkflame. Upvoted n resteemed.
You are welcome! I am as shocked as you to learn this.
As a Canadian, this has a big effect on me and my girls. Whit the direction thatCanada is going, I almost would move to Detroit. Lol
Canadian Dollar
1 CAD = 0.000644000 XBT
↔Bitcoin
1 XBT = 1,552.80 CAD
Live mid-market rate 2017-02-24 20:09 UTC